Given the following data, calculate the cost of goods sold using the average-cost method. (Round any intermediary and final answers to two decimal places.)
Date Item Unit
1/1 Beginning inventory 40 units at $15 per unit
4/11 Purchase of inventory 25 units at $20 per unit
10/1 Purchase of inventory 40 units at $25 per unit
12/31 Ending inventory 45 units
